Archive for February 1st, 2011

U.S. Construction Spending Fell 2.5% In December

U.S. construction spending fell 2.5% in December vs. 0.1% consensus and 0.2% fall(revised from 0.4% gain) in November. On year level we are at -6.4%.

Lowest reading since July 2000.

January ISM Manufacturing Index At 60.8

ISM Manufacturing Index was reported at 60.8 vs. prior reading of 58.5 (revised from 57.0) and consensus of 58.0.

Improved ISM Manufacturing Index suggest January industrial production growth rate in the U.S. could increase.

China Official PMI Fell To 52.6 In January; HSBC/Markit China PMI Rose To 54.5

Official (China Federation of Logistics & Purchasing and National Bureau of Statistics) China PMI fell form 53.9 to 52.6; HSBC/Markit PMI rose from 54.4 to 54.5.

Looks like industrial production growth in January will remain at present levels.

Morning Reading – Tuesday, February 1, 2011

*** The Big Picture: Fusion IQ Technical Overview ***
*** The Slope Of Hope: For The Sake Of Tim’s Sanity ***
*** FT Energy Source Blog: Oil hits $100/bbl ***
*** FT Alphaville: Oil spikes, shocks and stocks ***
*** FT Alphaville: Another Egypt downgrade – S&P cuts to BB ***
*** FT Alphaville: Remittances to Egypt ***
*** FT Alphaville: A conspicuously absent ECB ***
*** FT Alphaville: More on the bank business lending recovery ***
*** FT BeyondBRICs: Food drives Indonesian inflation again ***
*** Calculated Risk: Q4 2010: Homeownership Rate Falls to 1998 Levels ***
*** Economix: The Haves and the Have-Nots ***
*** Reuters: Gold premiums highest since 2004; India, China stock up ***
*** CNBC: Why Is Wall Street So Addicted to Prestige Colleges? ***


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